Home / Knowledge / News / Policy / Dhaka seeks US duty benefits for apparel made of US cotton

Dhaka seeks US duty benefits for apparel made of US cotton

14
Feb '20
Pic: Shutterstock
Pic: Shutterstock
Bangladeshi apparel products made of raw materials, including cotton, imported from the United States should be exempted from import duty by importers there, according to foreign minister AK Abdul Momen, who recently floated the idea to strike a deal on purchasing cotton from the United States in exchange of getting duty-free market access.

He was speaking at a luncheon meeting organised by the American Chamber of Commerce (AmCham) in Bangladesh with the theme ‘Strengthening Bangladesh-USA economic relationship’.

On an average, Bangladeshi products attract 15.6 per cent import duty in the US market, which is unfortunate for a least developed country as French products face only 0.5 per cent duty, he said.

There also must not be any requirement for further testing of the products at Bangladesh ports, he added.

The foreign minister said that the United States offers similar benefits to Sub-Saharan African countries and Caribbean countries under the African Growth and Opportunity Act (AGOA) and the Caribbean Initiative.

Momen urged US companies to invest more in Bangladesh to assist the country to achieve its aspiration for becoming a developed country by 2041.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Pharr sells Pharr High Performance to Coats Group

Pharr, a provider of differentiated textile products and assorted...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

TOAI highlights importance of textiles in auto industry

The first edition of the conference 'Textile Opportunities in a...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Cocona's 37.5 fibres to have new biodegradable additive

All of the 37.5 staple fibres and filament yarns by Cocona, will now...

Interviews View All

Victor Chao, Esmetex

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

DP Kumar,

DP Kumar

Weaves is South India's premier textile fair organised by Texvalley in...

Saad Khaled Bari,

Saad Khaled Bari

Benetex Industries is a public ltd company established in year 1992 to...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search